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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Brad Davies who wrote (1168)	1/22/1998 4:10:00 AM
From: taxikid	Respond to of 18691

somehow, ron, we think alike, although your eloquence is much more attractive..- see my earlier post on action and options thread.. and my post on chart thread.. from a few days ago.. although it is starting to lokk a bit toppy to me i will stay away.. i like liquidity

To: Brad Davies who wrote (1168)	1/22/1998 7:47:00 AM
From: Roger A. Babb	Read Replies (1) \| Respond to of 18691

Ron, I think WDRY is a house of cards. I just took a small position and will wait.

To: Brad Davies who wrote (1168)	1/22/1998 8:33:00 AM
From: DLS	Read Replies (2) \| Respond to of 18691

Junk bonds maybe. There probably are better shorts for the near term but not much better long term shorts. 1. New apartments typically don't have laundry rooms. In a renovation, the first thing considered is adding w/d connections to the units. Laundry rooms are a thing of the past, like mansard roofs. 2. Laundry contracts are perceived as major liabilities by sophisticated buyers of apartments (because the previous owner got paid for the buyer's revenue stream) who typically break them first chance they get. 3. Only cash strapped owners will sign these deals but otherwise they will forgoe the upfront payment and purchase the machines and keep the income because the additional "other income" adds more to the value of the property. 4. Increasing "other income" has recently become one of the top priorities among large apartment owner's (ie management companies and REITS) and this would necessitate keeping the laundry income rather than selling it. 5. I believe the number is more like $5-$10 per month per unit. IMO This business may look good on the surface but I believe trends are against it. IMO DLS